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Iona University has moved on from Tobin Anderson after just two seasons, parting ways with the coach who gained national attention for leading a No. 16 seed to an NCAA Tournament upset in 2023. His firing raises questions about how much Iona had to pay to buy him out, as well as what led to the decision.
Tobin Anderson Buyout
Anderson signed a five-year contract with Iona in March 2023, meaning he had three years left when the school fired him in March 2025. With an annual salary of approximately $500,000, his remaining contract was worth $1.5 million.
Iona is paying Anderson roughly $1.125 million as a buyout, based on 75% of his remaining contract. This type of structured payout is common for mid-major coaching contracts. Unless Anderson takes another coaching job with a salary offset clause, he will receive the full amount from Iona.
Tobin Anderson Contract
After leading Fairleigh Dickinson to a historic NCAA Tournament upset over No. 1 seed Purdue in 2023, Anderson signed a five-year contract with Iona through the 2027–28 season. His deal was wort rumored to be worth to be in the region of $500,000 per year, putting him in line with other top coaches in the Metro Atlantic Athletic Conference (MAAC).
The contract placed him in a similar pay range to Iona’s previous coach, Rick Pitino, who earned just over $600,000 per year before leaving for St. John’s. However, Anderson’s lack of postseason success at Iona cut his tenure short.
Why Iona Fired Tobin Anderson
Iona finished 33-34 under Anderson, a disappointing record for a program that expects to dominate the MAAC. While the Gaels made the conference championship game in 2025, they lost to Mount St. Mary’s, missing out on an NCAA Tournament bid.
Athletic director Matthew Glovaski cited challenges in the evolving Name, Image, and Likeness (NIL) landscape as part of the decision. Anderson struggled with player retention and roster management, key factors in today’s college basketball environment.
Ultimately, Iona made the move because Anderson did not meet the program’s standard of consistent NCAA Tournament appearances. In a conference where top teams expect to compete for automatic bids, Iona felt a change was necessary.
Who Will Be Iona’s Next Coach?
Iona is expected to target a high-profile replacement. Several names have emerged as candidates:
- Dan Geriot (New Orleans Pelicans assistant coach) – A leading candidate, Geriot has NBA experience with the Pelicans and Cavaliers, along with G League head coaching experience. Hiring an NBA assistant would be an unusual move for a MAAC program, but Iona may want a fresh approach.
- Kevin Keatts (Former NC State head coach) – Keatts was let go by NC State despite leading the Wolfpack to a Final Four run in 2024. He has experience at the mid-major level from his time at UNC Wilmington.
- Kyle Neptune (Former Villanova head coach) – After struggling at Villanova, Neptune is looking for a fresh start. He has strong recruiting ties in the Northeast.
Commentary
Iona’s decision to fire Anderson after just two seasons—and pay approximately $1.125 million to do so—shows that they have high expectations. The school isn’t content with simply competing in the MAAC; they want to be an annual NCAA Tournament team.
The rumored pursuit of NBA assistant Dan Geriot suggests that Iona may be shifting toward a modern approach to coaching. However, if they go with a more experienced college coach like Keatts or Neptune, the focus will be on recruiting and roster management.
Regardless of who they hire, Iona has made it clear that just being competitive in the MAAC isn’t enough. Anderson’s buyout is the price of that ambition.
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